The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-02
BIDDING FOR THE VANDALIA
Messrs. Ives and Waite Go to Terre Haute
to Confer with President McKeen.
The Negotiations Result in Nothing Definite,
but They Cause Great Deal Of Agita-
tion in Railroad Circles.

The rumors regarding the sale of the Vandala
to the Cincinnati, Hamilton & Indianapolis syn
dictate have considerably disturbed railroad cir.
cles. Fifteen days ago the Journal noted the
fact that a conference had been held between
the Staynor and Ives syndicate and President
Mckeen, and a very handsome offer had been
made for the road. A day or two after ward it
was stated that the Pennsylvania Company had
been appraised of the negotiations, and that they
had asked for option the road at 81, 500,
600, and that Mr.. Mckeen not disposed to
sell to any syndicate road On Monday last,
however, Cincinnati paper revived the rumor
with seemingly good foundation, and even went
SO far as to name the price paid and announce
the departure of special train from Cincinnati
carrying Mr. Ives and General Manager Waite,
of the c.. H. & L lines. to Terre Haute to con-
summate the negotiations.
Messrs Ives and Waite spent yesterday fore
noon in conference with President McKeen,
leaving him at P. NJ. They returned to Indi-
annapolis on express train No g. and were taken
from Indianapolis to Cincinnati a special.
While the gentlemen were waiting at the Union
Depot a representative of the Journal inquired
what had been the result of their conference
with Mr. Mckeen
Nothing" was the answer.
us the sale consummatedP
''It is not" was the answer.
Are negotiations off"
They not"
Were the statements of the Cincinnati pa
pers that you have an option Mr.. McKeeE's
controlling stock for 81 400, 900 correctP
Mo-
what can be said about the matterF
'Things are in such shape that anything you
might say would be speculative
In answer to the remark that it seemed singu-
lar that the PennsVlyaniA paODle SkOn0 let such
good property the t., II. 81 l. and the roads
it controls slip from their grasp, Mr.. Waite said
ut would seem so, but stranger things do hap
peu." Those best posted regarding Mr. McKeen's
affairs express the opinion that the Pennsylva-
mia people still have option on the road. and
that at the proper time they will gather it in,
and that they will pay more than the c., II. g.
d. syndicate. anybody else, to secure the
property. 1t is believed by some persons that
the real party which is endeavoring through the
Ives-Staynor syndicate to secure the Vandalia is
the Atchison. Topeka & Santa Fe Company. as,
with this link they could establish, in connec
ton with the c., II. & d. and the B. g. O.,
a transcontinental line from ocean to ocean.
Whether this is true not, it is quite evident
that the deal has reached such point that some
dalia system will pay Mr. McKeen good price
for mis- road, and that when the sum offered
meets his views he will sell.
In the Vandaia system there are 455 miles of
main track. 1t is capitalized at 81. 9SS, $50. The
funded debt the T. III. & l. is ST. 600 900. and
the T., a. & l.. division 81, 500, 900. The T. :,
H. 81 L. division is capitalized at SOUU.UO 1t
is stated good authority that the Pennsyl-
vania Company months ago would have paid Mr..
McKeen his price for the T., H. d l. il he would
sell it separately from the t.. H. & L. This di
vision. the Pennsylvania people say. they do
not care for. but rather than lose the t.. H. & /.
main line, 1t is believed they will bid higher than
any other company for the entire interest.
INTERVIEW WITH MR. M'KEEN.
Special to the Indianapolis journal;
TERRE HAUTE, Ind, June AFTER the de-
parture of Messrs. Ives, Waite and Rockwell,
of the Cincinnati Hamilton & Dayton company,
this afternoon, your correspondent asked Presi-
dent McKeen, of the Vandalia if it was true
that he had sold to them the controlling interest
in the Terre Haute & Indianapolis road which
is the lessee of the Vandalia and the Terre
Haute & Logansport roads. He said it not.
The negotiations had been pending for several
weeks. he said. but the sale had not been con-
summated. When asked if ne could say any
thing to the probabilities of the future he
replied: "You cannot tell such things in ad-
vance. Everything may change" He said the
gentlemen had made him good offer, but
sale had been made. He denied that he had
made an agreement to sell to-day at a certain
price
THE SALE SAID TO HAVE BEEN CoNSUMN1ATED.
CINCINNATI, June 1.-The Commercial Ga
zette will say. in its railroad column tomorrow:
"We can say positively that the purchase of
the Terre Haute & Indianapolis railroad
by the Ives Staynor syndicate was con-
summated yesterday, all reports to
the contrary notwithstanding. This gives the
syndicate the entire ownership of
seventy nine miles of railroad from Indianapolis
to the Illinois State line. This road from Indi-
annapolis to Terre Haute holds lease on the
Vandalia limo from Terre Haute to St Louis.
ilton & Dayton and the Baltimore & Ohio rail-
roads"